With those numbers, have you checked with a local bank or credit union?

To be honest, I´m in the Maintenance & Construction for corporate businesses for some US companies in Mexico and we do some Real Estate down here also, but it´s way much different than the US, so I have much to learn from a lot of people around here and as @Julio Gonzalez, I think this is pretty much the right pad and place to start and to break my fears to start all over again from scratchAlso, I´ld like to hear more from @Justin Brickman why he voted for his city, pros and cons, it will help to read from a local...As I said before, thank you all guys for taking the time to write in this post and share some experienceDo you plan to owner occupy. $40k will not get you a non owner occupied San Diego property unless you find some unlikely alternate financing.

Many investors have had to get creative by emphasizing other property perks, like pools, proximity to local attractions, or unique experiences, to offset any beach access challenges. 

Next PA has very strict requirements for interest rates which you cannot be in double digits.

Mine was also out of state, in a town I’d never visited, and I relied heavily on videos from my agent.This sounds like a tough first deal, but it seems like you have some capital on the side, which will be useful as you face the upcoming challenges and learn from those expensive early mistakes.Regarding the subject of this post, “help me adjust my expectations,” I’d recommend assuming that; repairs will cost twice as much as you estimate, maintenance and vacancy rates will likely double from your initial projections, there’s a very real chance you may lose money on this deal.That said, there are ways to mitigate these risks by:- Keep asking questions here on BP and connecting with local experts- Stay proactive and communicative with your agent and property manager.And remember “Inspect what you expect.”Im not trying to discourage you but to help reset your expectations.

Our partner Carol Tarnowski brought this opportunity to us through her local connections.

I would recommend searching for local Facebook groups to find events to attend.

I’ve been working exclusively in my local market since October and am excited to share that I already have a couple of deals under contract!

My name is Chad, I am a renovation construction PM professionally, currently starting a search to find/ invest in some Indianapolis and local area fix and flip projects.

Otherwise, selling and using the proceeds to scale your portfolio locally could accelerate your long-term goals.